Pennant Energy Inc.

Pennant Energy Inc.

June 09, 2005 18:06 ET

Pennant to Participate in Deep Gas Test Well

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 9, 2005) - Pennant Energy Inc. (TSX VENTURE:PEN) ("Pennant") announces that it has entered into a joint venture with Arapahoe Energy Corporation on land located on the Tsuu T'ina First Nation (Sarcee Indian Reserve) immediately west of the City of Calgary, Alberta. Pennant has a 10% participating interest and it is anticipated that drilling operations will commence on or before June 21, 2005 for the C1 et al Sarcee 12-13-23-4 W5M (the "12-13 Mississippian Test Well").

The 12-13 Mississippian Test Well will be drilled to an approximated depth of 3,300 meters subsurface. The primary objective is natural gas from the Mississippian - Rundle formation.

Operations through drilling and casing of the 12-13 Mississippian Test Well will take between 75 days and 90 days from spud.

Pennant is a publicly traded junior oil and natural gas exploration company that is currently producing from five wells with our sixth well, the Meekwap well, to be tied in and producing shortly.

For further information on any of our projects please feel free to contact the Company at 604-689-1799 or visit our web site at


Mr. Thomas Yingling, President - Director

This News Release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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